Las Vegas Industrial Gases Market Estimated to Experience a Hike in Growth By 2032
Las Vegas Industrial Gases Market Size
Las Vegas Industrial Gases Market to Reach $208.7 Million, by 2032 - Allied Market Research
WILMINGTON, DELAWARE, UNITED STATES, February 13, 2024 /EINPresswire.com/ -- Las Vegas industrial gases market is expected to witness an increase in demand during the forecast period, due to significant growth on account of increasing applications in electronics, healthcare, semiconductors, power generation, oil & gas, mining, and other industries. Furthermore, expanding crude oil consumption and the need for refining may enhance the demand for industrial gases in the forecast period.
The Las Vegas industrial gases market was valued at $155.9 million in 2022 and is projected to reach $208.7 million by 2032, registering a CAGR of 3.0% from 2023 to 2032.
Request for Sample PDF: https://www.alliedmarketresearch.com/request-sample/A283565
Industrial gases mainly consist of carbon dioxide, hydrogen, nitrogen, oxygen, and noble gases (helium, neon, argon, krypton, xenon, and radon). The atmospheric gases like oxygen, nitrogen, and argon are captured by reducing the temperature of the air until the respective components get liquefied and separated. New developments are taking place in healthcare with increasing emphasis on a healthier and generally better quality of life. In addition to oxygen, nitrous oxide, nitric oxides, and other industrial gases like hydrogen, helium, and xenon are all being prepared for use in pharmaceutical-based products. Treatments and drug developments using induced pluripotent stem cells (IPS) are bringing a new added value to the industry through the application of systems, using gases such as carbon dioxide and liquid nitrogen, which is indispensable for the cultivation and preservation of cells and tissues driving demand for high-grade industrial gases.
The coronavirus pandemic has weakened all the businesses in the industrial gases market; manufacturers are creating potential opportunities, owing to increasing applications of industrial gases in various end-use industries across the globe. Increasing demand for oxygen, nitrogen, carbon dioxide, hydrogen, and argon in different end-use industries, such as consumer electronics, semiconductors, food & beverages, healthcare, mining, and others is generating revenue streams for manufacturers in the industrial gases market. Furthermore, Las Vegas is expected to witness rapid growth due to industrialization and urbanization.
Get a Customized Research Report: https://www.alliedmarketresearch.com/request-for-customization/A283565
The increase in demand for power and increasing consumption of energy in the past decade have led to the development of new technologies, such as nuclear fusion, hydrogen fuel cells, and green ammonia, which have a positive impact on the demand for industrial gases. The rapid development towards highly stable and small-scale nuclear fission reactors is expected to drive the demand for noble gases, which are used in nuclear reactors. The huge investment of major countries across the globe the vision to ignite nuclear fusion technology by 2050 and the application of noble gas as a fuel and as a raw material to manufacture laser ignition systems drive the growth of the market.
Furthermore, an increase in the investment of developing and developed countries in hydrogen fuel cell technologies and engines to harvest energy is expected to have a positive impact on the market. An increase in demand for power in the future and rapid innovation and breakthroughs in the core technologies for nuclear fusion reactors will provide lucrative opportunities for the growth of the industrial gas market. The industrial gases market is segmented based on type, and end-use industry.
Based on type, the market is segmented into oxygen, carbon dioxide, nitrogen, hydrogen, noble gas, and others. In addition, based on the end-use industry, the industrial gas market is segmented into healthcare, electronics, aerospace, construction, energy & power, and others. The major companies profiled in this report include Air Liquide, Linde plc, BASF SE, Messer Group, NEXAIR, Air Products and Chemicals Inc., Universal Cryo Gas, LLC, and MATHESON TRI-GAS, INC.
Buy the Complete Report (PDF with Insights, Charts, Tables, and Figures) at: https://www.alliedmarketresearch.com/checkout-final/e71e3ea463f0c15c33a1d0de3240f1bc
Key findings of the study
- Based on type, the oxygen segment emerged as the leader in 2022 and is anticipated to be the largest market during the forecast period.
- Based on the end-use industry, the construction segment emerged as the leader in 2022 and is anticipated to be the largest market during the forecast period.
About Us:
Allied Market Research is a top provider of market intelligence that offers reports from leading technology publishers. Our in-depth market assessments in our research reports take into account significant technological advancements in the sector. In addition to other areas of expertise, AMR focuses on the analysis of high-tech systems and advanced production systems. We have a team of experts who compile thorough research reports and actively advise leading businesses to enhance their current procedures. Our experts have a wealth of knowledge on the topics they cover. Also, they use a variety of tools and techniques when gathering and analyzing data, including patented data sources.
David Correa
Allied Market Research
+1 800-792-5285
email us here
Visit us on social media:
Facebook
Twitter
LinkedIn
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
